Theme: Healthcare | Will the updated Uniform Code for Pharmaceutical Marketing Practices (UCPMP) 2024 curb freebies?

In this episode of the State of the Economy Podcast, PT Jyothi Datta looks at the latest developments in pharmaceutical marketing practices with Varsha Rajesh, Pharmaceutical and Life Sciences lawyer from Nishith Desai Associates. The Department of Pharmaceuticals issued the recently updated Uniform Code for Pharmaceutical Marketing Practices (UCPMP) 2024, which aims to redefine the boundaries between doctors and drug makers. The UCPMP 2024 introduces a framework to regulate interactions between pharmaceutical companies and healthcare professionals, with a focus on preventing undue influence on prescription practices. Varsha discusses key takeaways from the updated code, highlighting areas such as brand reminders, provision of free samples, and continuing medical education (CME) programs. She lays emphasis on the importance of compliance with tax laws and transparency requirements, reflecting a trend towards stricter regulatory oversight. The conversation also explores the implications of the code on industry practices and the challenges of enforcement. Varsha addresses concerns regarding self-regulation within the industry and the need for impartial adjudication of complaints. Despite criticisms, the UCPMP 2024 represents a significant step towards promoting transparency and accountability in pharmaceutical marketing. (Host: PT Jyothi Datta, Producer: Siddharth Mathew Cherian) About the State of the Economy Podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.